The State Board shall contract with the State Regents for the administration of the amount of funds set aside for supplementing the funding of postsecondary programs, and the State Regents shall assume responsibility under terms of the contract to allocate the funds for supplemental support of bona fide programs consistent with federal laws and regulations and shall be accountable for expenditure of the funds accordingly, provided that the State Board will include in the supplemental funding contract with the State Regents an amount of funds to underwrite the costs of one or more professional positions on the staff of the State Regents for the purpose of working with institutions in the promotion and development of technical and occupational education, and provided that the contract should be negotiated early in the spring of the year to allow for the planning and budgeting for best use of the funds by various institutions receiving supplemental allocations.
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